Proposal: Dash.org purchase - December Payment Replacement

[JGCMiner]

This very issue was disguised back in early February
https://bitcointalk.org/index.php?topic=421615.msg13797280#msg13797280

It doesn't matter where or how Daniel got the money... the original proposal was to reimburse Dash - 4 payments of 2100 Dash...

The budget system itself is unable to assume market risk - it pays agreed amount of Dash regardless of future market price.
That market risk - both upside risk and downside risk - is borne by the proposal owner, and they will do better or worse depending on future market price. That is, they are entitled to any upside reward, just as they is subject to any downside loss.

Exactly, not to mention that MN owners already agreed to reimburse the funds in DASH and that this payment would have been complete months ago save for a unforeseen glitch.

Not paying the previously agreed upon amount of DASH now that the price has gone up is reneging plain and simple. And that sets a dangerous precedent.

 

[hiddendark]

The fact that under the current budget system masternode operators can change their votes at any time means that noting is 'agreed' or 'committed' until the payment is actually made. Anyone who has a proposal under the current system runs the risk of masternode operators deciding to later change what they 'agreed' to. It should eb more seen as masternode operators supporting the proposal but not being committed to it.

Not advocating for either side in this debate, just bringing that point up for discussion.

 

[JGCMiner]

The fact that under the current budget system masternode operators can change their votes at any time means that noting is 'agreed' or 'committed' until the payment is actually made. Anyone who has a proposal under the current system runs the risk of masternode operators deciding to later change what they 'agreed' to. It should eb more seen as masternode operators supporting the proposal but not being committed to it.

Not advocating for either side in this debate, just bringing that point up for discussion.

I would agree with you in 99% of cases, but not this one where the budget would have been paid in December save a glitch. If everything had gone as planned, Daniel and the rest would have already had the coins. That why this is a special case and not paying the same amount in DASH would be reneging.

 

[TroyDASH]

So what about *all the other* budgets that were skipped in December? We going to plan to fix that now or wait another several months and then decide?

 

[Ryan Taylor]

So what about *all the other* budgets that were skipped in December? We going to plan to fix that now or wait another several months and then decide?

Other than ongoing budgets "core-team" and "Public awareness", there were no other multi-month budgets which were affected. Everything else was a one-payment budget item which would have been resubmitted. The core team just didn't get paid that month, and P.A. missed a payment. No need to make those payments up.

 

[David]

Other than ongoing budgets "core-team" and "Public awareness", there were no other multi-month budgets which were affected. Everything else was a one-payment budget item which would have been resubmitted. The core team just didn't get paid that month, and P.A. missed a payment. No need to make those payments up.

Evan paid Core Team out of his own personal funds that month.

 

[David]

Does dash.org make sense? For 20k yes. FOr 42k NO NO NO NO NO.

I would respectfully submit that no budget proposal to date makes any financial sense if we use this logic. In fact, we should immediately shut down the budget system and simply have the network "save" all those Dash until one day when they are worth significantly more. If our price increases tenfold, then in hindsight we will say that we spent ten times too much on every budget proposal.

Yes, at today's exchange rates, the domain cost $42,000. At next year's exchange rates, we may see that it actually cost $420,000. In ten years, that may be a deka-million dollar domain!

If you think I'm being silly, consider that Warren Buffett agrees with me. In his 2008 letter to shareholders, he states that his worst investment decision was the purchase of Dexter Shoe Company. The company, which he bought for $460 million, went bankrupt. But that's not the worst part. Buffett paid for Dexter with Berkshire stock rather than cash. That stock would have been worth $5 billion in 2008.

To this day, Buffett insists he lost $5 billion on that deal, not a "mere" $460 million.

P.S. The key, obviously, is that each budget proposal contributes a small bit to the future value of the project. Who is to say just how much of Dash's $7 price came from the new domain name?